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Mobile Collaborative Robots Market To Generate Revenue Worth $6.8 Billion by 2030

Mobile Collaborative Robots Market To Generate Revenue Worth $6.8 Billion by 2030

Published: June 2020

The growing demand for mobile cobots from the automotive industry and surging adoption of industrial automation, due to the growing government initiatives, are the key factors that positively impact the global mobile collaborative robots market. It is expected to generate $6.8 billion in revenue by 2030, advancing at a CAGR of 26.3% during the forecast period (2020–2030).

The COVID-19 outbreak has impacted original equipment manufacturers (OEMs) in every region, which, in turn, has hampered the global shipments to some extent. With the rising number of cases, numerous countries have implemented proper shutdown, leading to disruptions in the manufacturing of cobots and the supply chain of raw materials and components.

Hardware Category To Hold Largest Share throughout Forecast Period

The global mobile collaborative robots market, based on offering, is classified into hardware, services, and software. Among these, the hardware category held the largest share in 2019. This is attributed to the high rate of adoption of these robots in the automotive industry and the fact that hardware is the major part of mobile cobots. This category is further classified into robotic arm, sensor, end effector, motor, and others. Among these, the robotic arm subcategory led the market during 2014–2019, with the highest revenue, due to the wide use of robotic arms in material handling applications.

The global mobile collaborative robots market, based on payload, is classified into <5 kg, 5–10 kg, and >10 kg. Among these, the 5–10 kg category is expected to remain the fastest-growing over the forecast period. This can be attributed to the high rate of adoption of these robots in the automotive and electronics industries, for the handling of materials within this weight range.

Geographically, the Asia-Pacific (APAC) region held the largest share in the mobile collaborative robots market in 2019, and it is expected to remain dominant during the forecast period. This can be attributed to the increasing investments in automation by the automotive industry, rising population, and increasing demand for consumer electronics in the region, especially China, India, and South Korea.

Growing Number of Partnerships and Collaborations among Players in Market

Key players in the mobile collaborative robots industry are relying on partnerships and collaborations to increase their market share. For instance, in April 2020, PAL ROBOTICS SL. announced its collaboration with European Union (EU)-funded Smart and Healthy Ageing through People Engaging in Supportive Systems (SHAPES) project. Aimed at the aging population in Europe, this project focuses on creating an environment that integrates cobots to support the elderly in independent and healthy living. PAL’s TIAGo and ARI robots have been adopted in the project to aid old people in assistive tasks.

Similarly, in November 2019, Robotnik Automation S.L.L. and Itera Soluciones de Ingeniería SL announced their collaboration for the development of the Symphony project, which is supported by the Valencian Agency for Innovation. This project is aimed at developing technologies such as fleet management and planning systems, advanced robots, and operator location systems, in conjunction with mobile manipulators and robots.

Browse report overview with detailed TOC on "Mobile Collaborative Robots Market Research Report: By Offering (Hardware, Software, Services), Payload (<5 Kg, 5–10 Kg, >10 Kg), Application (Pick & Place, Material Handling, Welding, Machine Tending, Assembling), End User (Automotive, Agriculture, Retail, Mining & Mineral, Manufacturing, Aerospace & Defense, Healthcare, Electronics)-Global Industry Analysis and Growth Forecast to 2030" at:https://www.psmarketresearch.com/market-analysis/mobile-collaborative-robots-market-report

Some of the major players operating in the global mobile collaborative robots market are Teradyne Inc., Aubo Robotics Inc., FANUC Corporation, Kawasaki Heavy Industries Ltd., Yaskawa Electric Corporation, Fetch Robotics Inc., OMRON Corporation, Bosch Rexroth AG, Doosan Corporation, ABB Ltd., and KUKA AG.